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CIVIL SERVICES PRELIMINARY EXAMINATION, 2021 Themes ‘Economic Survey 2020-21’ ‘Budget 2021-22’ ‘More on Current Economy’ Test Paper: 01 Analysed and prepared by: Bhawani Singh Sir

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Page 1: CIVIL SERVICES PRELIMINARY EXAMINATION, 2021

CIVIL SERVICES PRELIMINARY

EXAMINATION, 2021

Themes

‘Economic Survey 2020-21’

‘Budget 2021-22’

‘More on Current Economy’

Test Paper: 01

Analysed and prepared by: Bhawani Singh Sir

Page 2: CIVIL SERVICES PRELIMINARY EXAMINATION, 2021

Test Paper-01: ‘Economic Survey 2020-21’ I ‘Budget 2021-22’ I ‘More on Current Economy’ Analysed and Prepared by Bhawani Singh

1

1. Which of the following statements is

correct as per analysis made and conclusions

drawn in Economic Survey 2020-21?

(a) The growth leads to debt sustainability in

the Indian context and essentially vice-versa

(b) Simulations undertaken till 2030 on India

highlight that given India's growth potential

debt sustainability is likely to be a serious

problem by then

(c) Debt-financed public expenditure is less

cost-effective to employ during recession

than during economic boom

(d) Counter-cyclical Fiscal Policy gets more

important for India as it has large workforce

employed in informal sector

2. In the Financial Year 2020-21 (FY2020-21)

there remained inflationary trends in a

significant part of the year in a large number

of commodities more so in food items despite

the fact that there was unprecedented

slowdown in economies in the world

including in India, why so?

(a) Uncertainty about health crisis

(b) Supply-side shock and disruptions in

supply-chain

(c) Increased burden of health emergency

expanses on the government

(d) Economic stimulus provided by the

Government including AtmaNirbhar Bharat

1.0, 2.0 and 3.0

3. Which of the following statements are

correct as per observations made /

conclusions drawn by Fifteenth Finance

Commission (FC-XV)?

1. Large scale crisis such as global pandemics,

economic depressions and financial shocks

lead to more centralising trends in inter-

governmental fiscal relations

2. Large scale crisis such as global pandemics,

economic depressions and financial shocks

lead to more decentralising trends in inter-

governmental fiscal relations

3. Due to health and economic implications of

COVID-19 pandemic, sub-national

governments have faced a 'scissors effect'

with declining revenues, rising spending

pressure in critical areas of their

responsibility and borrowing constraints

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 3 Only

(d) 2 and 3 Only

4. In economic recession time various types of

economic recovery are depicted using letters

of English Alphabet - in concept and practice

world-wide. Which of the following is/are

correctly described/depicted?

1. V-shape: Economic growth falls fast and

hard then broader inclusive quick recovery

and growth

2. U-shape: Economy falls then rises and falls

before regaining the prior growth momentum

3. L-shape: After fall some sectors of economy

recover fast with upward trend while some

other sectors continue to flounder or fall for

considerable time

4. K-shape: Economy falls quickly

considerably then broader economy or most

of the sectors take a longer time at low level

before getting growth momentum

Select the correct Code:

(a) 1 Only

(b) 1, 2 and 3 Only

(c) 3 and 4 Only

(d) 1, 2, 3 and 4

5. Which of the following statement are

correct relating to steps taken for creation of

National Digital Health Ecosystem (NDHE) in

India?

1. National Digital Health Mission (NDHM)

and Health Data Management Policy have

been brought in the Year 2021

2. National Digital Health Mission (NDHM)

has a centralised mechanism for managing

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Test Paper-01: ‘Economic Survey 2020-21’ I ‘Budget 2021-22’ I ‘More on Current Economy’ Analysed and Prepared by Bhawani Singh

2

and facilitating use of all data at national level

through a Central Agency

3. Use of Health ID in National Digital Health

Mission (NDHM) is expected to facilitate

seamless portability of health data of a

registered individual with his/her consent

Select the correct Code:

(a) 3 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) None of these

6. Which of the following are monetary

policy trends across the world for overcoming

the economic recession due to COVID-19

pandemic?

1. Fiscal stimulus for multiple sectors of

economy

2. Increasing of key monetary policy rates

3. Quantitative easing measures

4. Loan guarantees

Select the correct Code:

(a) 1 and 4 Only

(b) 2 and 3 Only

(c) 1, 3 and 4 Only

(d) 1, 2, 3 and 4

7. Which of the following statements is/are

correct?

1. 'Remission of Duties and Taxes in Exported

Products (RoDTEP) Scheme' has replaced the

'Merchandise Exports from India Scheme

(MEIS)'

2. 'Merchandise Exports from India Scheme

(MEIS)' has replaced the 'Remission of Duties

and Taxes in Exported Products (RoDTEP)

Scheme'

3. Current Foreign Trade Policy has been

extended till September 2021

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 3 Only

(d) 2 and 3 Only

8. Which of the following statements are

correct is context of proposals brought /

reforms pursued in Budget 2021-22?

(a) Multipurpose Seaweed Park is to be set up

in Karnataka

(b) National Rail Plan to develop adequate

infrastructure by 2025 to cater to the

projected traffic needs up to 2050

(c) Social security benefits will be extended to

gig economy workers

(d) None of these

9. Which of the following policy preferences

is/are preferred for Forbearance in Economic

Survey 2020-21?

1. It should not be brought at all

2. It should be used as emergency medicine

not as staple food

3. It should continue for relatively a longer

period even after economic recovery

4. There should be some check on use of

forbearance by banks in hiding bad loans and

delaying recognition of losses

Select the correct Code:

(a) 1 and 4 Only

(b) 2 and 3 Only

(c) 2 and 4 Only

(d) None of these

10. Which of the following statements are

correct?

1. If a policy is characterised by "saliency bias"

then historical past over-weighs the recent

phenomenon in policy

2. If the policy is characterised by "saliency

bias" then recent phenomenon overweighs

the historical past

3. Economic Survey 2020-21 says that in

developing long-term health infrastructure

the policy should be guided by the "saliency

bias"

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 3 Only

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Test Paper-01: ‘Economic Survey 2020-21’ I ‘Budget 2021-22’ I ‘More on Current Economy’ Analysed and Prepared by Bhawani Singh

3

(d) 2 and 3 Only

11. Which of the following statements is

correct?

(a) Higher public debt may lead to crowding

out effect thus impacting growth rate

(b) Crowding out effect leads to reduction in

interest rates and increase in private

investment

(c) Savings essentially reduce as the average

life expectancy in a country increases

(d) None of these

12. Which of the following statements is/are

correct?

1. The COVID Vaccine Intelligence Network

(Co-WIN) is digitised platform which

provides real-time information vaccine stocks

and individualised tracking of beneficiaries of

the vaccine on a real-time basis

2. Advanced economies were/are hit harder

in terms of percentage decline in economic

growth by COVID-19 pandemic as compared

to Emerging Market Developing Economies

as per World Economic Outlook April 2021 of

International Monetary Fund (IMF)

3. Emerging Market Developing Economies

were/are hit harder in terms of percentage

decline in economic growth by COVID-19

pandemic as compared to Advanced

Economies as per World Economic Outlook

April 2021 of International Monetary Fund

(IMF)

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 Only

(d) 3 Only

13. Which of the following statements is

correct relating to how the ₹ 'comes in' in

Budget proposals 2021-22?

(a) Contribution of borrowings and other

liabilities is higher than contribution of

'Goods and Service Tax (GST)', 'Union Excise

Duties', and 'Customs' taken together

(b) Contribution of Goods and Service Tax

(GST) is lower than contribution of Income

Tax

(c) Contribution of Corporation Tax is higher

than contribution of Income Tax

(d) None of these

14. In the COVID-19 pandemic affected

FY2020-21 from 'stringent lock down' to

phased cautious and graded unlocking

denotes which of the following in the tradeoff

in public policy in 'saving lives' and 'saving

livelihood'?

(a) Preference to saving lives over livelihood

throughout the year

(b) Switch over from 'saving lives over

livelihood' to 'balancing saving lives and

livelihood'

(c) Sophisticated and soft balance in 'saving

lives and livelihood' throughout the year

(d) Switch over from 'balancing saving lives

and livelihood' to 'saving lives over

livelihood'

15. Which of the following statement is

incorrect about CPI-IW?

(a) It measures the impact of price rise on the

cost of living of working class families spread

across select industries

(b) The base year of CPI-IW has been revised

from its earlier 2001 to a more recent base

year 2016

(c) It measures changes in the retail prices of

a fixed basked of goods and services being

consumed by an average working-class family

(d) CPI-IW is compiled and disseminated by

Department of Consumer Affairs in Ministry

of Consumer Affairs, Food and Public

Distribution

16. Which of the following reforms in

administration is not facilitated and promoted

through AtmaNirbhar Bharat Package?

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4

(a) National Recruitment Agency (NRA) to

conduct Common Eligibility Test (CET)

(b) More protection to government officials

against compulsory retirement

(c) Faceless Tax Assessment and Taxpayers'

Charter

(d) Fast-track Investment Clearance through

Empowered Group of Secretaries

17. Which of the following statements is/are

correct based on the analysis made and

conclusions drawn in the Economic Survey

2020-21?

1. Inequality of consumption is what matters

more than inequality of assets or inequality of

income

2. Inequality of assets or inequality of income

is what matters the most rather than

inequality of consumption

3. In most cases inequality of opportunity is

much more objectionable than inequality of

outcomes

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 3 Only

(d) 2 and 3 Only

18. Which of the following statement is not correct relating to 'Scheme for Special

Assistance to States for Capital Expenditure'?

(a) It is brought due to shortfall in tax revenue

faced by the States in tax revenue arising from

the COVID-19 pandemic

(b) Under it 50-year interest free loan up to

an overall sum not exceeding ₹12,000 crore is

provided

(c) The Scheme also pays attention to 15th

Finance Commission devolution

formulae/suggestions

(d) Loan amount can be used only for new

capital expenditure projects not for the

ongoing projects

19. Ministries were categorised in three

categories during the first two quarters (Q1

and Q2) of the Financial Year 2020-21

(FY2020-21), which of the following

statements is/are correct relating to that?

1. As compared to categories 'B' and 'C'

Ministries those in Category 'A' were imposed

with more restrictions in financial spendings

2. Category 'C' included the Ministries

engaged with providing emergency relief to

people including COVID-19 pandemic

related or carrying out welfare programmes

3. As there was a sharp contraction in the

revenue so the Government wanted to ensure

better availability of funds for essential

activities and health emergency measures

Select the correct Code:

(a) 3 Only

(b) 1 and 2 Only

(c) 2 and 3 Only

(d) None of these

20. Which of the following statements is/are

correct as per analysis made and conclusions

drawn in Economic Survey 2020-21?

1. If poverty is conceptualised in an absolute

sense then with high growth increase in

inequality may be even accompanied by

reduction in poverty

2. If poverty is conceptualised in relative

terms then increase in inequality may be even

accompanied by reduction in poverty

3. Multidimensional Poverty Index (MPI)

based on three dimensions - 'education',

'health' and 'standard of living' makes use of

ten indicators

Select the correct Code:

(a) 3 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) None of these

21. Which of the following statements is/are

correct as per analysis made and conclusions

drawn in Economic Survey 2020-21?

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5

1. During recession adopting counter-cyclical

fiscal policy essentially leads to lower

economic growth

2. During recession adopting pro-cyclical

fiscal stance essentially leads to higher

economic growth

3. Over the last two and half decades as a

norm in India, GDP growth rates have been

greater than interest rates

Select the correct Code:

(a) 3 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

22. Which of the following statements is/are

correct about the Global Innovation Index

(GII)?

1. In 2020 GII India is ranked 58

2. It has three pillars

3. It was incepted in the year 2015

4. It is co-published by Oxford University and

World Bank

Select the correct Code:

(a) 1 and 2 Only

(b) 1, 2 and 3 Only

(c) 3 and 4 Only

(d) None of these

23. Which of the following statements are

correct about Bare Necessities Index (BNI)?

1. It summarises 11 indicators only on three

dimensions which are water, sanitation and

housing

2. It has been created for all the States for

2012 and 2018

3. Access to bare necessities is highest for

States such as Kerala, Punjab, Haryana and

Gujarat

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

24. Which of the following statement is

correct relating to how the ₹ 'goes out' in

Budget proposals 2021-22?

(a) Allocation to Centrally Sponsored

Schemes is higher than Central Sector

Schemes

(b) Money spent on 'Interest Payments' is

higher than allocations to 'Central Sector

Schemes, and 'Centrally Sponsored Schemes'

taken together

(c) Money spent on 'Pensions' is higher than

money spent on 'Subsidies'

(d) None of these

25. Which of the following statement are

correct about Treasury Single Account (TSA)

System?

1. It was first brought on pilot basis in the

Financial Year 2020-21 however its scope will

be made wider in 2021-22 by including few

more autonomous bodies

2. Under it autonomous bodies directly draw

funds from the Government's account at the

time of actual expenditure

3. It is helpful in improving the efficiency of

public expenditure, reducing parking of funds

and increasing the transparency in public

finance management

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

26. Which of the following statements are

correct relating to the import trends in the

Indian Economy in April-November 2020?

1. Computer hardware and peripherals was

one of the new additions in the list of Top-10

import commodities

2. China did not figure as the largest source

for import origin in this period

3. While Switzerland did not figure in Top-10

import sources, but Germany was the new

addition

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Test Paper-01: ‘Economic Survey 2020-21’ I ‘Budget 2021-22’ I ‘More on Current Economy’ Analysed and Prepared by Bhawani Singh

6

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

27. Which of the following statements is/are

correct relating inflationary trends in

FY2020-21 in Thalinomics and the concept of

Thalinomics (The economics of a plate of food

in India)?

1. For the first time this concept is brought

through Economic Survey 2020-21

2, Thali cost represents the cost of the meal

cooked within a household primarily based

on the Public Distribution System (PDS)

consumption

3. Cost of Thali increased between June 2020

and November 2020 but witnessed a decline

in December 2020

4. The most expansive Veg thali in Urban

Areas was in Andaman & Nicobar Island

while the cheapest was in Madhya Pradesh

Select the correct Code:

(a) 1, 2 and 3 Only

(b) 3 and 4 Only

(c) 2, 3 and 4 Only

(d) 4 Only

28. As per the provisions in 'The Farmers'

Produce Trade and Commerce (Promotion

and Facilitation) Act, 2020', in case of any

dispute arising out of transaction between the

farmer and trader in trading of farmers'

produce can be resolved in which of the

following manner?

(a) Conciliation Board appointed by

concerned Sub Divisional Magistrate

(b) Through litigation in a Civil Court

(c) Special Tribunals are to brought for such

purpose

(d) Bringing the case before State Revenue

Board / Finance Commissioner

29. Which of the following statements is/are

correct about Pradhan Mantri Jan Arogya

Yojana (PM-JAY)?

1. It is being used significantly for low

frequency high cost health-care services

2. It was initially implemented in the year

2014

3. All the States and UTs have implemented it

4. It enhanced health insurance coverage

Select the correct Code:

(a) 1 Only

(b) 2 and 3 Only

(c) 1, 2 and 3 Only

(d) 4 Only

30. Which of the following statements are

correct in context of Budget 2021-22?

1. Never ever in Independent India Budget

followed a contraction except for this year

2. Mega Investment Textile Parks will be

launched as a sub-set and part of Production

Linked Incentive (PLI) Scheme

3. It provides a big push up for a 'Digital

Budget'

Select the correct Code:

(a) 3 Only

(b) 1 and 3 Only

(d) 2 and 3 Only

(d) None of these

31. Why did policy response in handling the

COVID-19 Pandemic in India so much aimed

at 'Flattening the Curve'?

(a) Reducing loss of livelihood of the people

(b) Rural nature of larger part of Indian

population

(c) Overburdened and stressed health-

infrastructure

(d) None of these

32. Which of the following statements is/are

correct relating to data on given Fiscal

Indicators for Budget Estimates 2021-22 and

Revised Estimates 2020-21 (as percentage of

GDP)?

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7

1. Budget Estimates 2021-22: Fiscal Deficit -

6.8 percent, Revenue Deficit - 5.1 percent,

and Primary Deficit - 3.1 percent

2. Revised Estimates 2020-21: Fiscal Deficit -

9.5 percent, Revenue Deficit - 7.5 percent,

and Primary Deficit - 5.9 percent

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) Both 1 and 2

(d) Neither 1 nor 2

33. Which of the following statements is/are

correct about Pradhan Mantri Jan Arogya

Yojana (PM-JAY)?

1. It covers approximately 50 crore

individuals across 10.74 crore poor and

vulnerable families which form bottom 40

percent of Indian population

2. If aims to set-up some 150,000 health and

wellness centres to provide comprehensive

primary health card service

3. It is portable across the country

4. It provides for secondary and tertiary

hospitalisation only through government

hospitals not through any private healthcare

provider

Select the correct Code:

(a) 2 and 3 Only

(b) 1, 2 and 3 Only

(c) 3 Only

(d) 1, 2 and 4 Only

34. Which of the following statements is/are

correct?

1. Drug prices in India are regulated by

Medical Council of India

2. Drug prices in India are regulated Drug

Controller General of India (DCGI)

3. During COVID-19 pandemic period the

Government constituted an Inter-Ministerial

Empowered Committee to make

recommendations for export of drugs/items

requested by foreign governments

Select the correct Code:

(a) 3 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) None of these

35. Which of the following statements is

correct?

1. Code on Social Security 2020 permits the

inclusion of 'gig economy' workers for social

security benefits under it

2. AtmaNirbhar Bharat Rozgar Yojana was

brought as part of AtmaNirbhar Bharat 3.0

3. AtmaNirbhar Bharat Rozgar Yojana was

brought as part of AtmaNirbhar Bharat 2.0

Select the correct Code:

(a) 1 Only

(b) 1 and 2 Only

(c) 1 and 3 Only

(d) None of these

36. In May 2020 Government of India (GoI)

launched 'CHAMPIONS' online platform to

help and handhold Micro, Small & Medium

Enterprises (MSMEs) which stands for which

of the following?

(a) Creation and Harmonious Application of

Mechanical Productivity for Increasing the

Output and New Skilling

(b) Creation and Harmonious Application of

Mechanical Productivity for Increasing the

Output and National Strength

(c) Creation and Harmonious Application of

Modern Processing for Increasing the Output

and New Skilling

(d) Creation and Harmonious Application of

Modern Processing for Increasing the Output

and National Strength

37. Assertion (A): Indian private sector has to

repay its foreign currency debt by exchanging

rupees through forex reserves.

Reason (R): India does not have full Capital

Account Convertibility.

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8

Select the correct Code:

(a) Assertion (A) and Reason (R) both are

correct, and Reason (R) is the correct

explanation for Assertion (A)

(b) Assertion (A) and Reason (R) both are

correct, but Reason (R) is not the correct

explanation for Assertion (A)

(c) Assertion (A) is correct, but Reason (R) is

wrong

(d) Assertion (A) is wrong, but Reason (R) is

correct

38. Which of the following statements is/are

correct relating to Import trends in the Indian

economy?

1. Top-10 countries for import origin were

same in April-November 2020 as in April-

November 2019

2. While China PRP was the largest source of

import origin in April-November 2019 but

not in April-November 2020

3. UAE continues to maintain third-place in

top-sources of import origin countries for

India in April-November 2019 as well as in

April-November 2020

Select the correct Code:

(a) 2 Only

(b) 3 Only

(c) 1 and 2 Only

(d) 1 and 3 Only

39. Which amongst the following statements

is/are correct about 'Honouring the Honest'

Platform in tax reforms?

1. It was launched in January 2021

2. More effective physical interface between

tax payers and tax officers

3. Usage of technology, data analytics and

Artificial Intelligence

4. Recognising taxpayers as partners in

nation-building

Select the correct Code:

(a) 3 Only

(b) 3 and 4 Only

(c) 1, 2 and 3 Only

(d) 1, 2, 3 and 4

40. Which of the following statements is

correct based on inflationary trends in

FY2020-21 as per analysis made and

conclusions drawn in Economic Survey 2020-

21?

(a) Although food inflation in rural and urban

areas has almost converged now, divergence

in rural-urban inflation is observed in other

components of CPI

(b) There is more divergence in food inflation

in rural and urban areas while more

convergence in rural-urban inflation is

observed in other components of CPI

(c) There is more convergence in inflation in

rural and urban areas in food inflation as well

as other components of CPI

(d) There is more divergence in inflation in

rural and urban areas in food inflation as well

as other components of CPI

41. Which of the following statements is/are

correct?

1. Hysteresis effect indicates less household

demand thus reduced economic activity of

the firms and reduced household income

2. Hysteresis effect indicates more household

demand thus increased economic activity of

the firms and increased household income

3. Gold emerged as safe-haven investment in

the backdrop of the pandemic crisis

4. Agriculture is the only sector in Indian

economy which has contributed positively to

the overall Gross Value Added (GVA) both in

Q1 and Q2 in FY 2020-21

Select the correct Code:

(a) 1 and 3 Only

(b) 1, 3 and 4 Only

(c) 2 and 3 Only

(d) 2, 3 and 4 Only

42. Which of the following statements are

correct?

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9

1. India has the largest number of migrants

living abroad and was the top recipient of

remittance in 2019

2. Computer software and hardware attracted

the highest FDI equity inflows in India in

April-September, 2020

3. USA is the most heavily indebted country

in the world in external debt

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

43. Assertion (A): Access to the Bare

Necessities has improved much higher for the

richest households across the country as

compared to the poorest households as per the

trends in the Bare Necessities Index (BNI)

findings.

Reason (R): The richest households can seek

better private alternatives, lobby for better

services, and can move to areas where public

goods are better provided.

Select the correct Code:

(a) Assertion (A) and Reason (R) both are

correct, and Reason (R) is the correct

explanation for Assertion (A)

(b) Assertion (A) and Reason (R) both are

correct, but Reason (R) is not the correct

explanation for Assertion (A)

(c) Assertion (A) is correct, but Reason (R) is

wrong

(d) Assertion (A) is wrong, but Reason (R) is

correct

44. Which of the following steps has/have

been taken by the Government to boost the

exports in recent times or last few years?

1. A National Committee on Trade

Facilitation (NCTF) was constituted with

Finance Secretary to Government of India

(GoI) as the Chair

2. A National Committee on Trade

Facilitation (NCTF) was constituted with

Cabinet Secretary as the Chair

3. Earlier A National Trade Facilitation

Action Plan (NTFAP) was brought for 2017-

20, then steps were initiated for NTFAP for

2020-23

Select the correct Code:

(a) 3 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) None of these

45. Which of the following statements are

correct?

1. Sustainable development places adequate

emphasis on three pillars of development

namely economic, social and environmental

2. As per 5-Year 'National Strategy for

Financial Inclusion (NSFI)' brought by

Reserve Bank of India (RBI) every village

should have access to formal financial service

provider within 1 km radius

3. Economic Survey 2020-21 establishes a

linkage between Sustainable Development

Goals relating to 'clean and sanitation' and

'affordable and clean energy' with the Bare

Necessities in the Bare Necessities Index

(BNI)

4. Intra-generational equity denotes

eradication of poverty and equitable social

and economic development

Select the correct Code:

(a) 1 and 3 Only

(b) 2 and 4 Only

(c) 1, 3 and 4 Only

(d) 1, 2, 3 and 4

46. Which of the following statement is

correct relating to Production Linked

Incentive (PLI) Schemes?

(a) Till now these are implemented in six key

specific sectors

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10

(b) Quantum of subsidy is solely based on the

export of products by the beneficiary

company

(c) Maximum incentive payable to a

beneficiary is fixed in advance at the time of

approval of beneficiary company/firm

(d) None of these

47. Which of the following reforms has/have

been brought in Centrally Sponsored

Schemes over a period of time?

1. Larger number schemes rationalised into

smaller number of Umbrella Schemes

2. Making cycle of these schemes

coterminous with Finance Commission cycle

3. More direct implementation of these

schemes by Central Ministries and

Departments

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

48. Which of the following financial terms

are correctly put with their respective

meanings?

1. Government net Balance = Total

Government Receipts - Total Government

Expenditure

2. Private Sector Net Balance = Gross Private

Domestic Investment - Gross Private Savings

3. Private Sector Net Balance = Net lending by

Households, Non-Profit Institutions serving

the Households and private Non-Financial

Corporations

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

49. Which of the following statement is/are

correct relating to the provisions in Farmers

(Empowerment and Protection) Agreement

on Price Assurance and Farm Services Act,

2020?

1. No farming agreement shall be entered into

by a farmer with a 'farm service provider' or

'sponsor' in derogation of any rights of a

sharecropper

2. No farming agreement shall be entered into

by a farmer and a 'farm service provider' or

'sponsor' if it is in contravention with State

'Agriculture Produce Marketing Committees

Act (APMC Act)

3. For farming agreement between a farmer

and farm service provider or sponsor

minimum period is one year and maximum is

six years

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 2 and 3 Only

(d) None of these

50. Which of the following statements is/are

correct relating to Merchandise Exports from

India Scheme (MEIS)?

1. It was successfully challenged by USA in

World Trade Organisation (WTO) on

grounds of being inconsistent with WTO

rules and global trade norms

2. India appealed in WTO Appellate Body

which reversed findings of WTO Dispute

Panel

3. India appealed in WTO Appellate Body but

the Appeal is yet pending there

Select the correct Code:

(a) 1 Only

(b) 1 and 2 Only

(c) 1 and 3 Only

(d) None of these

51. Which of the following can be the positive

implications of the Current Account Surplus

and better position of Foreign Exchange

Reserves in 2020-21?

1. Better investor confidence in the country

and on Indian currency

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2. It may help in appreciation of Indian

currency ₹

3. Surplus foreign exchange can also be

invested abroad

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

52. Which of the following statements is/are

correct relating to the current Foreign Trade

Policy (FTP) of India?

1. It was brought in 2015 for the period 2015-

20

2. Till now it has been extended twice: First

extension for a period of One Year, and

Second extension for a period of six months

3. Government's official view is that due to

unprecedented situation arising out of the

COVID-19 pandemic it is extended till 30th

September 2021 so as to continue benefits of

various export promotion schemes

Select the correct Code:

(a) 1 Only

(b) 1 and 3 Only

(c) 1, 2 and 3

(d) None of these

53. Which of the following statements are

correct relating to FY2020-21?

1. Expenditure policy of the Government

took care of issue of supporting the vulnerable

sections

2. During lockdown and after unwinding of

lockdown Expenditure Policy aimed at

severely restraining capital spendings looking

at constraints of revenue collection

3. In FY 2020-21 impacted by COVID-19

pandemic General Government (Centre plus

States) fiscal registered a slippage

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

54. Which of the following statements are

correct relating to export trends in FY2020-

21 in Indian Economy?

1. Drug formulations and biologicals have

registered a positive growth

2. Commodities including organic and

inorganic chemicals, electronic goods, gems

and jewellery pulled export growth down

3. India's Current Account Surplus is mainly

contributed by boom in exports rather than

contraction in imports

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

55. In case of any inconsistency between the

provisions of 'The Farmers' Produce Trade

and Commerce (Promotion and Facilitation)

Act, 2020' and any State 'Agriculture Produce

Marketing Committees Act (APMC) Act,

what will be the course of action?

(a) The Farmers' Produce Trade and

Commerce (Promotion and Facilitation) Act,

2020 will prevail over State Agriculture

Produce Marketing Committees (APMC) Act

(b) State Agriculture Produce Marketing

Committees Act (APMC Act) will prevail

over The Farmers' Produce Trade and

Commerce (Promotion and Facilitation) Act,

2020

(c) The matter will be referred to the

Department of Agriculture of the concerned

State

(d) The matter will be referred to Ministry of

Agriculture and Farmers' Welfare,

Government of India (GoI)

56. As per analysis made and conclusions

drawn in Economic Survey 2020-21 which of

the following statements are correct?

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1. If economic inequalities increase with

economic growth then obvious there is

essentially an increase in absolute poverty in

the country

2. A family's ability to access bare necessities

such as housing, water, sanitation, electricity

and clean cooking fuel is important

barometer of economic development

3. With economic growth income inequalities

may increase yet absolute poverty alleviation

can can continue

4. With economic growth despite increase in

economic inequalities relative poverty is

bound to reduce

Select the correct Code:

(a) 1 and 2 Only

(b) 2 and 3 Only

(c) 1 and 4 Only

(d) 2, 3 and 4 Only

57. IMF's October Global Financial Stability

Report, 2020 says that near-term global

financial stability risks were contained

mainly due to which of the following?

(a) Steps taken for financial inclusion through

digital inclusion

(b) Timely policy response to maintain flow

of credit to the economy

(c) Steps taken by multiple countries to

maintain food reserves

(d) None of these

58. Which of the following statements is

correct?

(a) The classification of expenditure into

'Plan' and 'Non-Plan' has been removed from

the accounts of the Union but none of the

States

(b) The classification of expenditure into

'Plan' and 'Non-Plan' has been removed from

accounts of the Union but of very few States

(c) The classification of expenditure into

'Plan' and 'Non-Plan; has been removed from

accounts of the Union and of most of the

States

(d) None of these

59. Which of the following statements is/are

correct relating to Budget 2021-22?

1. Two new technologies - 'MetroLite' and

'MetroNeo' will be deployed to provide rail

system at much lesser cost with same

experience, convenience and safety in Tier-2

cities and peripheral areas of Tier-1 cities

2. One Person Companies (OPCs) will be

allowed to grow without any restrictions on

paid up capital and turnover, and allowed

their conversion into any other type of

company at any time

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) Both 1 and 2

(d) Neither 1 nor 2

60. Which of the following statements is/are

correct relating to dispute settlement

concerning farming agreements on farming

produce under Farmers (Empowerment and

Protection) Agreement on Price Assurance

and Farm Services Act, 2020?

1. Such a dispute shall be first referred to the

conciliation board as per the provisions of

farming agreement

2. If the farming agreement does not provide

for conciliation process then on a receipt of a

dispute concerned Sub-Divisional Magistrate

constitutes a Conciliation Board

3. If parties fail to settle their dispute through

conciliation process then Sub-Divisional

Magistrate can decide a dispute in a summary

manner

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 1, 2 and 3

(d) None of these

61. Under Farmers (Empowerment and

Protection) Agreement on Price Assurance

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13

and Farm Services Act, 2020 a farmer and

'farm service provider' or 'sponsor' may enter

into a farming agreement on which of the

following?

1. Farming produce including terms and

conditions for supply and farm services for

such produce

2. Lease and mortgage of the land of the

farmer

3. Sale or transfer of ownership of land of the

farmer

Select the correct Code:

(a) 1 Only

(b) 1 and 2 Only

(c) 1, 2 and 3

(d) None of these

62. As per the provisions of Essential

Commodities Act, 1955 after changes brought

through The Essential Commodities

(Amendment) Act, 2020, Central

Government may regulate the supply of some

foodstuffs under extraordinary circumstances

during which of the following?

1. War

2. Famine

3. Extraordinary price rise

4. Natural calamity of grave nature

Select the correct Code:

(a) 2 and 4 Only

(b) 1, 2 and 3 Only

(c) 1, 3 and 4 Only

(d) 1, 2, 3 and 4

63. Which of the following statements is/are

correct about Jal Jeevan Mission (Urban)?

1. Funding from Government for project will

be in two tranches of 40:60

2. Cities having Million plus population

should take up Public Private Partnership

Projects (PPP) worth minimum 25% of their

total project allocation

3. It will help in pursuing Sustainable

Development Goal 6 (SDG-6)

Select the correct Code:

(a) 3 Only

(b) 1 and 2 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

64. Which of the following statements are

correct relating to Agriculture Sector and

Rural India as pursued/supported in the

Budget 2021-22?

1. Extending coverage of SWAMITVA

Scheme to all States/Union Territories (UTs)

2. Expansion of Operation Green Scheme to

include 22 more perishable goods

3. 1000 more mandis to be integrated with e-

NAM

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

65. Which of the following statements is/are

correct?

1. India has Current Account Surplus in the

Financial Year 2020-21 (FY2020-21)

2. India had Current Account Surplus in

Quarter 1 (Q1) as well as in Quarter 2 (Q2) In

the FY2020-21

3. India had Current Account Surplus in the

Quarter 4 (Q4) of the FY2019-2020

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 2 Only

(d) 1, 2 and 3

66. Which of the following statements is/are

correct relating to Farmers (Empowerment

and Protection) Agreement on Price

Assurance and Farm Services Act, 2020, The

Farmers' Produce Trade and Commerce

(Promotion and Facilitation) Act, 2020, and

Essential Commodities (Amendment) Act,

2020?

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14

1. All these three laws provided that they

shall be deemed to have come into force on

5th day of June, 2020

2. In January 2021 the Supreme Court stayed

the implementation of all these three laws

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) Both 1 and 2

(d) Neither 1 nor 2

67. Which of the following statements is

correct relating to estimates and projections

on growth prospects of Indian Economy in

the Financial Year 2021-22 (FY2021-22) as

given in Economic Survey 2020-21?

(a) India real-GDP is to record 11.0% growth

and nominal-GDP 16.8%

(b) India real-GDP is to record 11.0% growth

and nominal-GDP 15.4%

(c) India real-GDP is to record 11.9% growth

and nominal-GDP 16.8%

(d) India real-GDP is to record 11.9% growth

and nominal-GDP 15.4%

68. Which of the following is the main reason

that USA launched investigation against some

countries on Digital Service Tax (DST) or

'Equalisation Levy'?

(a) USA alleges it is discriminatory and targets

US Companies

(b) USA feels it may reduce Foreign Direct

Investment (FDI) there

(c) USA favours its bringing when more

number of countries support it

(d) None of these

69. Global tenders are banned/'not permitted'

for government procurement up to ₹200

crore basically aimed at which of the

following?

(a) To curtail down government spendings so

as to make government's efforts more

effective in containing budget deficit

(b) To discourage the dependency of the

government on foreign enterprises and world

economy for better security including 'cyber

security' and self-reliance

(c) To encourage business for Micro, Small &

Medium Enterprises (MSMEs) so that they

could compete and supply for government

tenders

(d) To more encourage Indian corporates to

avail the benefits of the Production Linked

Incentive (PLI) Schemes brought in multiple

sectors

70. Which of the following statements are

correct?

1. Sagarmala was approved in 2015 as a part of

National Perspective Plan (NPP)

2. Operational efficiency of Indian Ports is

better than the global average

3. At state level, State Sagarmala

Development Committee (SDC) is chaired by

State Chief Minister

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

71. Which of the following statements are

correct?

1. Continuing forbearance for a long period

even after recovery from recession may lead

to ever greening of bad loans by banks thus

their under-capitalisation

2. One way of ever-greening of loans is

lending a new loan to a borrower on verge of

default near the payment date of an existing

loan

3. A business group is classified as zombie if

the interest coverage ratio of the entire group

is less than 1

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

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15

(d) 1, 2 and 3

72. Which of the following statement is

correct relating to budget allocation to central

ministries and departments in Budget 2021-

22?

(a) Highest allocation is made to the Ministry

of Health and Family Welfare

(b) Allocation to Ministry of Education is

higher than Ministry of Railways

(c) Top three ministries in descending

sequence of allocation are Ministry of

Defence, Ministry of Health and Family

Welfare, and Ministry of Home Affairs

(d) None of these

73. Which of the following statements is/are

correct about Bare Necessities Index (BNI)?

1. A lower value indicates better access to

bare necessities

2. Green: Below 0.50

3. Yellow: 0.50 to 0.70

4. Red: Above 0.70

Select the correct Code:

(a) 1 and 3 Only

(b) 3 Only

(c) 2 and 4 Only

(d) 1, 2, 3 and 4

74. Which of the following statement is

correct about DigiBoxx?

(a) It is brought by Ministry of Information

and Broadcasting in partnership with Google

(b) It was launched by the Prime Minister in

April 2020

(c) It is News Sharing App supported by

foreign Software-as-a-Service (SaaS)

(d) None of these

75. Which of the following statement are

correct relating to Budget 2021-22?

1. The Agriculture Infrastructure Fund would

be made available to Agriculture Produce

Marketing Committees for augmenting their

infrastructure facilities

2. Application of Treasury Single Account

(TSA) System will be expanded

3. In 2021-22 Initial Public Offering (IPO) of

Life Insurance Corporation (LIC) will be

brought

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

76. Which of the following statements are

correct relating to the Ports, Shipping and

Waterways?

1. Budget 2021-22 pursues Public-Private

Partnership (PPP) for managing operational

services of major ports

2. Budget 2021-22 provides for subsidy

support to promote flagging of merchant

ships

3. Recycling of Ships Act is enacted in 2020

and recycling capacity is to be doubled by the

year 2022

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

77. In case of any dispute on farming

agreement on farming produce under

Farmers (Empowerment and Protection)

Agreement on Price Assurance and Farm

Services Act, 2020 any party aggrieved by the

order of Sub-Divisional Authority (Sub-

Divisional Magistrate) may prefer an appeal

to Appellate Authority presided over by

whom amongst the following?

(a) Divisional Commissioner or an Additional

Commissioner in the Division nominated by

Divisional Commissioner

(b) Collector or Additional Collector

nominated by the Collector

(c) State Revenue Board or Finance

Commissioner of the State as the case may be

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16

(d) A Civil Court having jurisdiction in that

area

78. Phased coming of different versions of

AtmaNirbhar Bharat Abhiyan which are 1.0,

2.0 and 3.0 reflect which of the following in

fiscal stimuli strategy of the government for

pandemic COVID-19 affected economy?

(a) Continuing focus on cushion for the poor

and lenient special support to small businesses

with stringent labour regulations in big

corporate sector

(b) Cushion for the poor and lenient special

support to small business with calibrated

transition to support investment and

consumption demand

(c) Government's priority to Food Security

and Direct Benefit Transfer with pro-poor

approach and strategic approach of the

Government to completely pull away from

public sector in strategic areas

(d) Government's efforts to keep a check on

import to continue with Current Account

Surplus and more restrictive approach on

Government expenditure for containing

Budget Deficit

79. Which of the following statements is/are

correct?

1. 'Thalinomics' or the economics of a plate of

food in India is for the first time brought in

the Economic Survey 2020-21

2. Economic Survey 2020-21 says the network

of schemes designed to deliver Bare

Necessities in Bare Necessities Index (BNI)

include Swachh Bharat Mission (SBM),

National Rural Drinking Water Mission (now

Jal Jeevan Mission), Pradhan Mantri Awaas

Yojana (PMAY), Saubhagya and Ujjwala

Yojana

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 2 Both

(d) Neither 1 nor 2

80. Which of the following statements are

correct about Pradhan Mantri Garib Kalyan

Yojana (PMGKY)?

1. It increased the wages under Mahatma

Gandhi National Rural Employment

Guarantee Act/Scheme by ₹50 with effect

from 1st April, 2020

2. Lateral collateral free lending support was

increased for women Self-Help Groups

(SHGs)

3. It gave ₹500 per month for the specified

period to women Pradhan Mantri Jan-Dhan

Yojana (PMJDY) account holders

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

81. Which of the following statements is

correct relating to World Solar Bank (WSB)?

(a) International Solar Alliance (USA) plans to

launch it at COP-26 at Glasgow in November

2021

(b) Authorised capital of the bank will be

US$50 billion

(c) It will be headquartered in New York,

USA

(d) None of these

82. Which of the following statements is/are

correct?

1. Eight core infrastructure supportive

industries which include coal, crude oil,

natural gas, refinery products, fertilisers,

steel, cement and electricity have a total

weight of nearly 40 percent in the Index of

Industrial Production (IIP)

2. Government of India (GoI) brought

Agriculture Export Policy in 2018 which aims

to double level of agriculture exports by 2022

from the level achieved in 2017

Select the correct Code:

(a) 1 Only

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17

(b) 2 Only

(c) Both 1 and 2

(d) Neither 1 nor 2

83. Which of the following statements is/are

correct about Business Process Outsourcing

(BPO)?

1. AtmaNirbhar Bharat Package promotes its

use by simplifying Other Service Provider

(OSP) guidelines

2. Digital India Programme promotes its use

under the pillar IT for jobs

3. Ministry of Skill Development and

Entrepreneurship is designated as Nodal

Ministry for setting up BPOs in every North-

Eastern State under Digital India Programme

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 2 Only

(d) 1, 2 and 3

84. Which of the following statements is/are

correct?

1. As per trends in Goods and Trade

Barometer, World Trade Organization

(WTO) said global merchandise trade growth

in volume was high during the fourth quarter

of 2020 and will remain so in First Half of

2021

2. As per trends in Goods and Trade

Barometer, World Trade Organization

(WTO) said global merchandise trade growth

in volume was high during the fourth quarter

of 2020 but is unlikely to sustain in the first

half of 2021

3. 'The Goods and Trade Barometer' and

'Services Trade Barometer' are

brought/published by World Trade

Organisation (WTO)

select the correct Code:

(a) 1 Only

(b) 2 Only

(c) 1 and 3 Only

(d) 2 and 3 Only

85. Which of the following statement are

correct?

1. In India in the last decade generally actual

tax collection has been higher than what was

budgeted

2. At state level sale tax on petroleum and

alcohol, State excise, stamp duties, vehicle tax

and electricity duty are 'non-GST' taxes

3. A change in tax structure is taken as neutral

if the modified tax is able to realise revenue

comparable to the original tax regime,

relative to the tax base

Select the tax correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

86. Which of the following statements is/are

correct about Pradhan Mantri Garib Kalyan

Yojana (PMGKY)?

1. Prime Minister's Office (PMO) was made

Nodal Agency for its implementation

2. It converged few pro-poor welfare schemes

and makes use of them with enhanced

allocations for the objectives to be achieved

under it

3. The Scheme was brought on 50:50 sharing

basis between Government of India and State

Governments, but for Union Territories it

was 100:0

Select the correct Code:

(a) 2 Only

(b) 1 and 2 Only

(c) 2 and 3 Only

(d) None of these

87. Which of the following statements are

correct relating to Sustainable Development

Goals (SDGs)?

1. There are 17 Global Goals brought in 2015

which are to be achieved by 2030

2. Economic Survey 2020-21 says there is

direct link between Bare Necessities in Bare

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Necessities Index (BNI) and SDGs Goal 6 and

Goal 7

3. SDGs Goal Number 13 is on Peace, Justice

and Strong Institutions

4. SDGs Goal Number 17 is on Partnerships

for the SDGs

Select the correct Code:

(a) 2 and 3 Only

(b) 1, 2 and 4 Only

(c) 2, 3 and 4 Only

(d) 1, 2, 3 and 4

88. Which of the following statements is/are

correct?

1. Under Ministry of Food Processing

Industries, 'Operation Greens' was brought

relating to Tomatoes, Onions and Potatoes

(TOP) but 'AtmaNirbhar Bharat' extended it

to all fruits and vegetables (TOTAL)

2. Operation Greens is the 'Umbrella

Scheme/Programme' which includes Pradhan

Mantri Kisan Sampada Yojana (PMKSY) and

multiple other schemes/projects

3. Pradhan Mantri Kisan Sampada Yojana

(PMKSY) is 'Umbrella Scheme' which

includes Operation Greens and some other

schemes/projects

Select the correct Code:

(a) 1 and 3 Only

(b) 1 and 2 Only

(c) 1 Only

(d) None of these

89. Which of the following statements is/are

correct relating to Indian pharmaceutical

industry?

1. It is second largest in the world in terms of

volume and eleventh largest in terms value

2. It had tripled its exports in span of around

ten years from 2010 to 2019

3. India was eleventh in terms of world

pharma exports in 2019

Select the correct Code:

(a) 1 Only

(b) 3 Only

(c) 1 and 2 Only

(c) 2 and 3 Only

90. Which of the following statements are

correct about First World Solar Technology

Summit (WSTS)?

1. It was organised in March 2021 in Tokyo,

Japan

2. It was a Virtual Summit

3. It was organised by International

Renewable Energy Agency (IRENA)

4. It was organised by International Solar

Alliance (ISA)

Select the correct Code:

(a) 1 and 3 Only

(b) 1 and 4 Only

(c) 2 and 3 Only

(d) 2 and 4 Only

91. Which of the following steps were taken

in India for stabilisation of prices of food

items?

1. Operation Greens project extended from

TOP (Tomato, Onion and Potato) to all fruits

and vegetables (TOTAL)

2. Establishing storage facilities for food items

in Public Private Partnership (PPP) mode

3. Amendment in 2020 in Essential

Commodities Act, 1955

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

92. Which of the following statement is

correct?

(a) Fifteenth Finance Commission (FC-XV)

makes use of 2011 census data though its

Terms of Reference (ToR) did not mandate so

(b) Fifteenth Finance Commission (FC-XV)

makes use of 2011 census data and its Terms

of Reference (ToR) mandated so

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(c) Fifteenth Finance Commission (FC-XV)

makes use of 1971 census data though its

Terms of Reference (ToR) did not mandate so

(d) Fifteenth Finance Commission (FC-XV)

makes use 1971 census data and its Terms of

Reference (ToR) mandated so

93. Which of the following statements is

correct relating to Production Linked

Incentive (PLI) Scheme?

(a) The Scheme is for three years period 2021-

22, 2022-23, and 2023-24

(b) It was first brought for Food Processing

Sector later expanded to some other sectors

(c) Percentage of incentive is uniform across

all sectors in which the scheme is

implemented

(d) None of these

94. Which of the following statements is/are

correct relating to Budget 2021-22?

1. The Contingency Fund of India is being

augmented from ₹500 crores to ₹30,000

crores through Finance Bill

2. Borrowings under Treasury Bills have been

revised to ₹1,25,000 crore from the budgeted

estimate of ₹25,000 crore

Select the correct Code:

(a) 1 Only

(b) 2 Only

(c) Both 1 and 2

(d) Neither 1 nor 2

95. Which of the following statements are

correct?

1. Distributed Ledger Technologies (DLTs)

can be used in the Banking System, in

addition to their use in Cryptocurrencies, and

e-KYC compliance cost can be reduced

2. If Central Bank Digital Currency (CBDC) is

brought in a country then regulatory

effectiveness of Monetary Policy of that

country is essentially highly diminished

3. Transactions of Cryptocurrencies are Peer-

to-Peer (P2P) making use of Blockchain and

Smart Contracts with a decentralised system

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 3 Only

(c) 2 and 3 Only

(d) 1, 2 and 3

96. Which of the following statement is not correct relating to Production Linked

Incentive (PLI) Scheme?

(a) Its strategy is to offer companies incentives

on incremental sales from products

manufactured in India over the base year

(b) To a give a boost to domestic industry it

promotes domestic investment and

discourages foreign investment in India

(c) Its strategy is to offer companies incentives

on incremental sales from products

manufactured in India over the base year

(d) It will help in creating economies of scale

and enhancing exports making India an

integral part of global supply chain

97. Which of the following statements is

correct?

(a) First ever UN Food Summit will take place

in November 2021 in Glasgow, Scotland, UK

(b) After bringing of Sustainable

Development Goals (SDGs) in 2015, no

Summit on SDGs took place

(c) UK won the bid to host the COP-26

following a partnership with Italy

(d) None of these

98. Which of the following statement are

correct?

1. Cryptocurrency is a Fiat Money and it is

regulated by Central Banks of different

countries in the world

2. Central Bank Digital Currency (CBDC) is a

legal tender and if brought in a country it

helps in promoting digital economy

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Test Paper-01: ‘Economic Survey 2020-21’ I ‘Budget 2021-22’ I ‘More on Current Economy’ Analysed and Prepared by Bhawani Singh

20

3. Digital Service Tax (DST) or Equalisation

Levy is charged on Non-Resident Companies

not based in India giving online

advertisement services to buyers/users based

in India

4. Digital Service Tax (DST) or Equalisation

Levy is charged on companies with fixed

permanent establishment in India giving

online advertisement services to foreign

buyers

Select the correct Code:

(a) 1 and 3 Only

(b) 1 and 4 Only

(c) 2 and 3 Only

(d) 2 and 4 Only

99. As per the growth projections in 'World

Economic Outlook April 2021' of

International Monetary Fund (IMF) which of

the following economic growth trends are

correct in context of comparison between

'Advanced Economies' and 'Emerging

Markets & Developing Economies'?

1. In the year 2020 'Emerging Markets &

Developing Economies' have more contracted

than 'Advanced Economies'

2. In the years 2021 and 2022 'Advanced

Economies' are expected to grow faster then

'Emerging Markets & Developing Economies'

3. In the year 2020 'Advanced Economies'

have more contracted than 'Emerging

Markets & Developing Economies'

4. In the year 2021 and 2022 'Emerging

Markets & Developing Economies' are

expected to grow faster than 'Advanced

Economies'

Select the correct Code:

(a) 1 and 2 Only

(b) 1 and 4 Only

(c) 2 and 3 Only

(d) 3 and 4 Only

100. Cumulatively different versions of

AtmaNirbhar Bharat Abhiyan i.e. 1.0, 2.0 and

3.0 indicate and bring out which of the

following strategies/approaches in handling

the Indian economy by the Government's

fiscal stimuli during 'COVID-19 pandemic'

recessionary period?

1. Cushion for the poor aimed at fulfilling

basic necessities including food security

2. Lenient and special supportive approach for

Micro, Small & Medium Enterprises (MSMEs)

3. Contractionary monetary policy so as to

contain fiscal deficit and inflation and

keeping them easily manageable

4. Support to investment and consumption

demand so as to provide broader growth

momentum and economic recovery

Select the correct Code:

(a) 1 and 2 Only

(b) 3 and 4 Only

(c) 1, 2 and 4 Only (d) 1, 2, 3 and 4

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Test Paper-01: ‘Economic Survey 2020-21’ I ‘Budget 2021-22’ I ‘More on Current Economy’ Analysed and Prepared by Bhawani Singh

21

Answer Key:_____________________________________________________________

1. (d)

2. (b)

3. (c)

4. (a)

5. (a)

6. (c)

7. (c)

8. (c)

9. (c)

10. (b)

11. (a)

12. (a)

13. (a)

14. (b)

15. (d)

16. (b)

17. (c)

18. (d)

19. (a)

20. (b)

21. (a)

22. (d)

23. (c)

24. (d)

25. (c)

26. (b)

27. (b)

28. (a)

29. (d)

30. (a)

31. (c)

32. (c)

33. (b)

34. (a)

35. (b)

36. (d)

37. (a)

38. (b)

39. (b)

40. (a)

41. (b)

42. (d)

43. (d)

44. (c)

45. (c)

46. (c)

47. (a)

48. (d)

49. (a)

50. (c)

51. (d)

52. (c)

53. (b)

54. (a)

55. (a)

56. (b)

57. (b)

58. (c)

59. (c)

60. (c)

61. (a)

62. (d)

63. (a)

64. (d)

65. (d)

66. (c)

67. (b)

68. (a)

69. (c)

70. (b)

71. (d)

72. (d)

73. (b)

74. (d)

75. (d)

76. (a)

77. (b)

78. (b)

79. (b)

80. (c)

81. (a)

82. (c)

83. (c)

84. (d)

85. (c)

86. (a)

87. (b)

88. (a)

89. (b)

90. (d)

91. (d)

92. (b)

93. (d)

94. (c)

95. (b)

96. (b)

97. (c)

98. (c)

99. (d)

100. (c)